5 Cheap Value Stocks to Buy for 2022

4. United States Steel Corporation (NYSE:X)

P/E Ratio: 1.94

Price as of December 9: $23.13

Number of Hedge Fund Holders: 26

United States Steel Corporation (NYSE:X), a cheap value stock with a price to earnings ratio of 1.94, is a Pennsylvania-based integrated steel producer that operates in the United States and Central Europe, and deals in flat-rolled steel, tubular steel, and iron ore. 

United States Steel Corporation (NYSE:X) posted its Q3 results on October 28, announcing an EPS of $5.36, beating estimates by $0.43. Revenue in the period increased almost 155% year-over-year to $5.96 billion, outperforming estimates by $210.07 million. 

On November 16, Wolfe Research analyst Timna Tanners initiated coverage of United States Steel Corporation (NYSE:X) with a Peer Perform rating and a $27 price target, citing a cautious view on steel prices and “looming regional oversupply.”

As of the third quarter of 2021, 26 hedge funds tracked by Insider Monkey were bullish on United States Steel Corporation (NYSE:X), holding total stakes amounting to $576.3 million. The largest United States Steel Corporation (NYSE:X) stakeholder from Q3 is D E Shaw, holding 6.51 million shares worth over $143 million.